While other industries flounder, real estate takes off during pandemic

house for sale
The housing market is tight, but first-time homebuyers are still out looking for real estate.
Curtis Adams on Pexels file

Something strange is happening in the Minnesota housing market, and, not surprisingly, the pandemic is the reason.

More people in the Twin Cities metro area are seeking houses away from the urban core, where they can have more space, and access to amenities, as our stay-at-home lifestyle drags on.

On top of that, lots of first-time buyers are out searching for houses — and not finding many. Sellers are getting multiple offers, often over the asking price.

Host Angela Davis was joined by two industry experts who explained what it’s like to buy a home right now, especially as prices soar and middle- and low-income people are further shut out of Minnesota’s housing market.

And as she does every Monday, Angela checked in with MPR News senior economics contributor Chris Farrell on the state and national economy.

Guests:

  • Henry Rucker is a realtor at Banneker Realty and chair of the diversity committee at Minneapolis Area Realtors, the largest local realtor association in Minnesota.

  • Julie Gugin is president of the Minnesota Homeownership Center, a nonprofit working to close the state’s homeownership gap.

  • Chris Farrell is a senior economics contributor for MPR News.

Use the audio player above to listen to the program.

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